The global economy has undergone rapid and dramatic changes in recent decades, which are poised to accelerate, raising new possibilities and challenges for Canadians and policy-makers. The economy is now characterized by weak growth in Canada, a rebound in the United States, and more moderate yet strong growth in emerging markets. At the same time, the global operating environment for business has been dominated by accelerating flows of data, people, services, and investment.
Canada's future trade gains will not look the same as in the recent past, and the country will need to position itself to leverage the benefits of new technological developments while mitigating any negative impacts. This briefing examines these changes and the forces behind them, and considers the policy response that would best position Canadian firms and the entire economy to take advantage of the opportunities presented.